Fraud, Scams & Cybercrime

Anti-Money Laundering

New Singapore Bills Target Money Mules, Singpass Abuse

By Manesh Samtani | 18/04/2023

The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.

Fraud, Scams & Cybercrime

Australia Saw 80pc YoY Jump in Scam Losses in 2022

By Editors | 18/04/2023

Australians lost more to scams than ever before in 2022. Losses per victim rose by more than 50% to an average of almost A$20,000.

Fraud, Scams & Cybercrime

Do Kwon Sent $7m to Law Firm Before Terra Collapse

By Editors | 17/04/2023

Korean prosecutors believe the transfer may suggest Do Kwon was aware of Terra’s impending collapse and was seeking to pre-empt the legal repercussions.

Fraud, Scams & Cybercrime

Hong Kong Police Bust SIM Card Fraud Ring Linked to Triads

By Mark Johnston | 16/04/2023

The suspects registered SIM cards with fake IDs and sold them to scammers who created social media accounts to lure victims.

Fraud, Scams & Cybercrime

US Sentences Man Who Stole Bitcoin from Silk Road to Prison

By Mark Johnston | 15/04/2023

The DOJ said James Zhong executed a scheme to trick Silk Road’s withdrawal system and steal 50,000 Bitcoin in 2012.

Fraud, Scams & Cybercrime

Taiwan Cabinet Approves Legislation to Bolster Anti-Fraud Effort

By Editors | 14/04/2023

The amendments to three bills include higher penalties for cases of personal data leakage where negligence is found.

Fraud, Scams & Cybercrime

ATO to Compel Banks to Hand Over Landlord Data in Tax Probe

By Editors | 13/04/2023

The Australian Taxation Office is seeking to identify individuals who are failing to meet their tax obligations on residential investment properties.

Fraud, Scams & Cybercrime

UK Tables Amendment to Introduce ‘Failure to Prevent Fraud’ Offence

By Editors | 13/04/2023

Prosecutors will be able to hold large companies to account if they do not have reasonable measures in place to prevent fraud by an employee.

Anti-Money Laundering

EU-Funded Report Explores Crypto Use in Darknet Markets

By Mark Johnston | 12/04/2023

Law enforcement needs training, resources, technology and cooperation to effectively investigate darknet markets, which grew 469-fold between 2011 and 2020.